5 Financially Savvy Tips for Reducing Your Energy Bills This Winter

5 Financially Savvy Tips for Reducing Your Energy Bills This Winter

In the middle of winter, your energy bills can skyrocket. As the temperature outside drops, you’re probably tempted to keep turning your thermostat up. While you probably feel cozy inside when it starts to snow, you might regret it when it’s time to pay up. And at a time of year when you’re already spending extra on holiday gifts, trips to visit relatives, and entertaining guests, every dollar counts. 

How can you reduce your energy bills without spending too much upfront, and stay warm in the process? It’s definitely doable. By following these tips, you can keep your house nice and toasty and put less of your paycheck towards your energy bills.

Replace Your Furnace

Yes, replacing your furnace can get expensive - but sometimes, it’s a necessary step if you want to lower your energy costs in the coming years. An outdated, inefficient furnace can seriously drive up your energy usage.

Typically, a new furnace will cost you anywhere from $2,547 to $6,137. However, there are ways to save. For example, a gas furnace generally sells for $2,000 to $10,000, but on average, electric furnaces are somewhat cheaper - you can usually purchase one for $1,000 to $6,000. In addition, you’ll need to account for labor costs, which will likely be somewhere between $500 and $2,000. 

Get Cozy

The cheapest way to stay warm this winter? Get some cozy blankets for your couch and bedroom! Hunker suggests choosing blankets made of wool or fleece. You don’t have to drive to your local home goods store to stock up, either - instead, shop online and find discounts at websites like Rakuten. When you can browse all of the best deals on one platform, you’ll save time and money, and before you know it, your house will be a toasty sanctuary. 

Clean Your Vents

Sometimes, getting warm air flowing through your home is as simple as unblocking and cleaning your vents. First, make sure there are no furniture or rugs covering up your vents and impeding the air flow. Next, clean off the outside of your vents, and be careful to protect yourself from breathing in any dust while doing so. If there are still issues with airflow afterwards, you may need to call in a professional, but it’s best to troubleshoot by yourself first to avoid unnecessary spending. 

Weatherstripping

Wondering why the areas near your front and back doors feel drafty? It could be because you need to fix up your weatherstripping. Damaged weatherstipping can allow cold air into your house, prompting you to turn up the heat and increase your energy costs. 

However, this is an easy problem to fix. You can pick up weatherstripping materials from most hardware stores, and with the right tools, you can install it yourself. It’s relatively cheap, and it will save you lots of money in the long run! 

Adjust Your Thermostat

Sometimes, you don’t even notice how high you’ve set your thermostat - until it’s finally time to pay that bill. Simply turning your thermostat down a few degrees can make a huge difference. Volunteer Energy suggests setting your thermostat to 68 degrees during the day and between 60 to 67 degrees at night. However, do not let the temperature drop below 55 degrees - otherwise, your pipes might freeze!

If you have more wiggle room in your budget, you could consider installing a smart thermostat, which can cost anywhere from under $100 to over $500 depending on the brand (and not including installation costs). You can program this device to automatically adjust the temperature when you’re asleep or out of the house.

You might assume that reducing your energy bills in the winter will inevitably mean shivering and wearing gloves in the house. But thankfully, that doesn’t have to be the case. You can be frugal and think “green” this winter without sacrificing your comfort, and when you get your next energy bill, your wallet will thank you!